The Long Run Is

question 125

Multiple Choice

The long run is

• A)A period longer than one year.
• B)The period required to produce a unit of the firm's output.
• C)A period long enough for all inputs to be variable.
• D)Approximately one year.

---

Definitions:

Judiciary Act

Legislation passed by Congress to establish the federal judiciary system, including the Supreme Court, federal district and circuit courts, and the office of the Attorney General.

Writs Of Mandamus

Court orders that command a public official, government agency, or another court to perform a specific act required by law.

Chief Justice

The head judge of the Supreme Court in a country, holding the highest judicial position in the judicial branch of government.

John Marshall

The fourth Chief Justice of the United States (1801-1835), whose court opinions helped lay the basis for American constitutional law and made the Supreme Court a coequal branch of government.